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Crypto KOL Rune (@RuneCrypto_) has published a post questioning LAPTOP’s claims of “no insiders” and “fair launch.” He noted that despite the project announcing its launch two days in advance and claiming no insider allocations, eligible Hunter Biden Substack subscribers were able to claim 4,276 LAPTOP tokens each. At its peak price, each airdrop was valued at roughly $1 million, Rune said. Multiple newly created wallets that had never traded any tokens before sold their holdings immediately after claiming the airdrop, he added. To date, millions of LAPTOP tokens have been claimed and dumped, while airdrop wallets still hold approximately $7.9 billion worth of the tokens. Rune stated that LAPTOP’s price has dropped by 95% compared to 15 minutes prior, attributing the selling pressure to airdrop recipients. He sarcastically remarked that the project’s so-called “insiders” are merely labeled “subscribers” — they do not need to buy tokens in advance, instead receiving them for free to sell to secondary market buyers.

According to official website data, the mainstream liquidity pool (LP pool) for Biden’s son-themed Meme coin LAPTOP has been set up on Aerodrome. This pool charges a 2% transaction fee, with a cumulative trading volume of $510,000 and a total value locked (TVL) of $2 million. However, likely due to trader habits, the official pool has not outperformed the community pool. On Uniswap, LAPTOP’s community LP pool has a minimum transaction tax rate of 5%, a TVL of just $705,000, but has already recorded an actual trading volume of $6.426 million, with a pool APR as high as 19,412%.

Crypto KOL Rune (@RuneCrypto_) noted in a post that a pair of newly created wallets with direct financial ties between them surfaced during the LAPTOP airdrop claim process. The first wallet, 0x8DA...A18d, claimed 4,276 LAPTOP tokens for free, then sold them for roughly $400,000. It subsequently transferred 0.02 ETH to another newly created wallet, 0xc27...b591. The second wallet also claimed 4,276 LAPTOP tokens for free and sold them immediately; due to the token price having fallen since the first address’s sale, this transaction only netted around $200,000. Rune called the on-chain activity surrounding LAPTOP “getting strange,” but did not confirm whether the two wallets are controlled by the same entity.

According to GMGN data, LAPTOP’s fully diluted valuation (FDV) saw heightened volatility after dropping to $4 billion: it rallied 200% in five minutes, then plunged 40% in one minute, and is now trading at $7.82 billion. BlockBeats Note: Meme coins exhibit extreme volatility, largely driven by market sentiment and concept hype rather than any tangible value or practical use cases. Investors should be mindful of associated risks.

According to Lookonchain’s monitoring, a trader lost nearly his entire $200,000 investment in Hunter Biden-linked token LAPTOP, leaving only around $3,000. The trader had withdrawn $250,000 from Binance in advance, planning to purchase LAPTOP immediately after its launch. Ultimately, he spent $200,000 to buy 919 LAPTOP tokens at a high price of $218 each, and the position is now worth only about $3,000.

According to GMGN data, LAPTOP’s fully diluted valuation (FDV) has fallen below $15 billion, currently standing at $12.6 billion, and dropped an additional 58% in the past three minutes.